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According to the Facts and Factors, Research Report, the global precious metals market in 2019 was above USD 290 Billion and is expected to reach above USD 450 Billion by 2026. The anticipated CAGR for the precious metals market is around 6% from 2020 to 2026.The precious metals are a metallic element that is natural, rare, and difficult to find. Due to its rarity, precious metals have high economic value. Precious metals are solid at room temperature and possess high luster and are usually ductile. They are good conductors of electricity and heat. Predominantly they are referred to as an investment. They are less reactive than other elements. Platinum and gold are prominent metals while silver and other metals are used in industrial applications. All these metals are well known due to their use in art and jewelry.
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Due to increasing uncertainty in the market, most stockholders are looking for a safe haven in the precious metals commodity. Growing mining sectors are expected to boom the precious metals market. The growing use of precious metals in several industries such as electronics, chemical, jewelry, automotive, oil, and gas, etc. is driving precious metals market growth. Growing consumption of gold and platinum is the major driver of the market. Precious metals are very expensive, if they are not polished properly, they become impure and may lose their luster and make them dull. This factor may curb the growth of the market. Illegal gold mining, political instability may impede market growth. The use of metals such as gold, silver, platinum, etc. in the jewelry, and in investment offers a lucrative opportunity for market growth.
Top Market Players:
Key players holding the top position in the precious metals market are AvaTrade, XM Global Limited, XTB, Pepperstone, AxiTrader, EToro Ltd., Forex.com, Plus500 Ltd., Henyep Capital Markets (HYCM), iForex, Goodwill Wealth Management Private Limited, and others.
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By type segment, the precious metals are divided into gold, silver, platinum, palladium, and others. Among these, the gold category highly penetrated the market in 2019, it accounted for more than 40% market share of the global precious metals market. Gold was followed by silver and platinum in 2019. Furthermore, the silver category is expected to grow with high demand globally throughout the estimated period 2020-2026.
By end-user, the global precious metals market is classified into individual, and broker. The individual segment is anticipated to grow in the near future. Increasing interest and knowledge of customers regarding trading is supporting the segment growth. Growing awareness regarding investments and stocks among the people is increasing the customer base for the individual application segment.
By geography, the Asia-pacific region dominated the global precious metals market share in 2019. The Asia-pacific region was valued at around USD 140 billion in 2019, owing to the rising demand for gold and silver in various countries of this region. Low-interest rates and negative yields, with stringent monetary policies in developing and developed countries may project the precious metals market’s growth.
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Key Insights from Primary Research
1) After conducting extensive interviews with C-level executives operating in the precious metals market, we analyzed that the global market is anticipated to foresee considerable growth by the end of 2026.
2) In 2019, the precious metals generated revenues worth more than USD 290 billion owing to the use of precious metals in various end-use industries such as jewelry, automotive, electronics, etc. and is predicted the market to witness lucrative growth of the market during the forecast period.
3) Geographically, Europe was the second-largest market for precious metals in 2019. This growth is attributed due to the high demand for gold, silver, and platinum in this region.
4) Based on type, the gold category penetrated the market with higher shares in 2019. Gold was followed by silver, generated revenue of more than USD 100 billion in 2019. However, our primary respondents believe that the silver segment is projected to witness significant growth over the future years.
5) Considering the application segment, an individual category penetrated the market with around USD 220 billion in 2019 and is further anticipated to grow in the near future owing to increasing consumer interest in investment of gold and silver.
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This report segments the precious metals market as follows:
Global Precious Metals Market: By Type Analysis
Gold
Silver
Platinum
Palladium
Others
Global Precious Metals Market: By End-User Analysis
Individual
Broker
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